Divided U.S. Senate Panel Votes To Recommend Cordray As Consumer Watchdog

A U.S. Senate committee voted on party lines Thursday to recommend confirmation of Richard Cordray as director of the Consumer Financial Protection Bureau.

The former Ohio Attorney General's nomination has been the target of partisan disagreement since President Barack Obama announced it July 18.

Republicans delayed confirmation of Mr. Cordray because of concerns over the CFPB's structure, namely the director's vast authority, but said they have no qualms with the nominee's credentials. The GOP called for changes to the law before the proposed director would be approved.

U.S. Sen. Sherrod Brown (D-Cleveland) joined 11 other Democrats in voting in favor of the nomination while 10 Republicans voted against it. The appointment will now move to the full Senate for approval.

Copyright, 2011, Gongwer News Service, Inc. All Rights Reserved. This message and any attachments may not be forwarded or reproduced without express permission from Gongwer News Service.